Fjarde AP Fonden Fourth Swedish National Pension Fund Has $41.32 Million Stock Holdings in Trane Technologies plc $TT

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in Trane Technologies plc (NYSE:TT) by 54.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 99,153 shares of the company’s stock after purchasing an additional 34,930 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Trane Technologies were worth $41,321,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in TT. Vanguard Group Inc. boosted its position in Trane Technologies by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company’s stock valued at $7,791,909,000 after buying an additional 192,270 shares in the last quarter. State Street Corp increased its holdings in shares of Trane Technologies by 0.6% during the fourth quarter. State Street Corp now owns 10,113,123 shares of the company’s stock worth $3,936,034,000 after buying an additional 61,393 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Trane Technologies by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 5,071,072 shares of the company’s stock valued at $1,964,896,000 after acquiring an additional 14,179 shares during the last quarter. Norges Bank bought a new position in shares of Trane Technologies in the fourth quarter valued at approximately $1,163,124,000. Finally, Nordea Investment Management AB boosted its holdings in shares of Trane Technologies by 2.9% in the 4th quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock worth $1,010,419,000 after acquiring an additional 72,998 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Transactions at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the transaction, the insider directly owned 3,819 shares in the company, valued at $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the business’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the transaction, the chief financial officer owned 60,576 shares in the company, valued at approximately $27,259,200. The trade was a 12.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TT has been the topic of a number of research analyst reports. Evercore assumed coverage on shares of Trane Technologies in a report on Monday, April 13th. They set an “outperform” rating and a $535.00 price objective on the stock. JPMorgan Chase & Co. upped their target price on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Citigroup increased their price target on shares of Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Sanford C. Bernstein began coverage on shares of Trane Technologies in a report on Tuesday, June 9th. They issued an “outperform” rating and a $550.00 price target for the company. Finally, Royal Bank Of Canada lifted their target price on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Trane Technologies has an average rating of “Moderate Buy” and a consensus target price of $509.12.

Trane Technologies Price Performance

TT opened at $477.76 on Friday. The stock has a market cap of $105.61 billion, a P/E ratio of 36.95, a P/E/G ratio of 2.23 and a beta of 1.19. Trane Technologies plc has a 12 month low of $348.06 and a 12 month high of $505.87. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The company has a fifty day simple moving average of $470.69 and a 200 day simple moving average of $440.67.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business had revenue of $4.97 billion for the quarter, compared to analysts’ expectations of $4.81 billion. During the same quarter in the previous year, the business posted $2.45 EPS. Trane Technologies’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, research analysts expect that Trane Technologies plc will post 14.9 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be issued a $1.05 dividend. The ex-dividend date is Friday, September 4th. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is presently 32.48%.

About Trane Technologies

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.